SGX backs Baltic Exchange in Mercuria lawsuit over crude tanker index
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Singapore Exchange (SGX) has rejected allegations from Mercuria Energy Trading S.A. regarding its subsidiary, Baltic Exchange Information Services Limited, failing to produce the TD3C benchmark properly. Mercuria claims to have incurred losses in the “hundreds of millions” due to the continued publication of the TD3C index amid the conflict in the Gulf. SGX stated that the Baltic Exchange operates under established governance and will defend against Mercuria's lawsuit, which seeks to compel changes to these processes.
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